WORLD

US tax overhaul hits UBS earnings with a $3 billion writedown

Ermotti foresees a pick up in volatility, particularly in the second part of the year, but he said the company needs to be wary about the kind of volatility that lies ahead. “We have to pay attention to what we are wishing for here, if volatility is triggered by sudden changes in the macroeconomic environment,…



In Tokyo meeting, officials seek to forge ahead with TPP – even as Canada wavers

As trade officials gather in Tokyo this week to try and forge ahead with a trade pact that U.S. President Donald Trump abandoned last year, the new 11-member club risks getting bogged down by resistance from Canada. The member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTTP), also known as TPP 11,…


A US president should not submit to Davos lectures about trade, war and peace

That is an ominous policy mix that usually leads to an economic slowdown and recessions of unknown amplitude and duration. But let’s not rain on Trump’s work anniversary party. The Chinese, the Europeans and the Japanese will do that. They have him stuck — on his watch — with a whopping $564 billion trade deficit…




Apple teams up with Malala fund to fight for girls’ education

Apple has teamed up with a charity set up by Pakistani girls’ education activist Malala Yousafzai. The tech titan said Monday that the partnership with Yousafzai’s Malala Fund would expand financing programs to India and Latin America and offer secondary education to 100,000 girls. The collaboration would also double the number of grants offered by…


World’s richest 1% get 82% of the wealth, Oxfam says

Mark Goldring, chief executive of Oxfam GB, said the statistics signal “something is very wrong with the global economy.” “The concentration of extreme wealth at the top is not a sign of a thriving economy but a symptom of a system that is failing the millions of hard-working people on poverty wages who make our…